BioSafe Brokers $6M Deal With Creditors

Law360, New York (May 3, 2007, 12:00 AM EDT) -- BioSafe Medical Technologies Inc. may be able to duck out of bankruptcy soon after negotiating a joint motion to dismiss that will see the home medical-testing company shelling out $6 million to pay off its unsecured creditors.

BioSafe and the creditors informed Judge Susan Pierson Sonderby at a hearing in the U.S. Bankruptcy Court for the Northern District of Illinois in Chicago on Wednesday that they would be submitting a joint motion to dismiss the bankruptcy petition on the consent of all petitioning parties, according to...
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